Economy

IMF approves US$5.2 billion loan for Egypt against COVID-19

IMF approves US$5.2 billion loan for Egypt against COVID-19

The International Monetary Fund (IMF) approved on Friday a 12-month US$5.2 billion Stand-By Arrangement (SBA) loan for Egypt. The new…
Egypt top recipient of foreign direct investment in Africa in 2019

Egypt top recipient of foreign direct investment in Africa in 2019

The Information Center of the Egyptian Cabinet published an infographic showing that Egypt ranked first in Africa in attracting foreign…
Egypt’s central bank keeps key interest rates on hold – statement

Egypt’s central bank keeps key interest rates on hold – statement

CAIRO, June 25 (Reuters) — The Central Bank of Egypt (CBE) kept its main interest rates steady on Thursday, despite…
Dutch minister throws carrier KLM 3.4 bn euro lifeline

Dutch minister throws carrier KLM 3.4 bn euro lifeline

THE HAGUE, Netherlands (AP) — The Dutch government announced Friday that it will throw national carrier KLM a 3.4 billion-euro…
IMF to discuss Egypt’s request for US$5.2 bn loan

IMF to discuss Egypt’s request for US$5.2 bn loan

The Executive Board of the International Monetary Fund will discuss on Friday Egypt’s request for a US$5.2 billion loan to…
No movement on Thursday in US dollar exchange rates in Egyptian banks

No movement on Thursday in US dollar exchange rates in Egyptian banks

The US dollar maintained its price against the Egyptian pound on Thursday, following a slight decline on Wednesday. The US…
US dollar stabilizes against Egyptian pound exchange rates

US dollar stabilizes against Egyptian pound exchange rates

The US dollar maintained its prices against the Egyptian pound’s exchange rates on Monday, recording LE16.11 for purchase and LE16.24…
Egypt strikes deal with Chinese company to produce electric cars

Egypt strikes deal with Chinese company to produce electric cars

Egypt’s Minister of the Public Business Sector Hisham Tawfiq on Thursday witnessed the signing via video conference of a memorandum…
Solidarity or frugality? EU leaders discuss coronavirus plan

Solidarity or frugality? EU leaders discuss coronavirus plan

BRUSSELS (AP) — As they brace for the worst economic downturn since the Great Depression, leaders of the European Union’s…
Egypt’s Petroleum Ministry announces oil discovery in Gulf of Suez

Egypt’s Petroleum Ministry announces oil discovery in Gulf of Suez

Egypt’s Ministry of Petroleum on Thursday announced the discovery of an oil field in the shallow waters of the Geisum…
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